When a Houston area couple gets married, they often assume their marriage will last forever. Although this is the case for some couples, many more result in a divorce. Property division in a divorce is one of the most complicated aspects of a divorce, and when there are mineral rights involved, it can be extremely difficult.
Many Texas families have mineral rights as part of their family assets. In Texas, as part of land ownership, the minerals under the land can also be included. There are five components of mineral rights. One is the right to have access to exploit the minerals, two is the right to receive royalty payments for the minerals, three is the right to execute a mineral lease, four is the right to receive delay rentals and five is the right to receive bonus payments.
In a divorce situation, the mineral rights are treated as real property and divided as all other real estate would be divided. If a person received the mineral rights before the marriage, then they would be considered separate property. They would also be considered separate property if they were acquired from a gift or inheritance.
During a divorce, mineral rights can be a complicated subject. There can be disputes about whether they are considered separate property or marital property. There can also be complications with royalty payments, bonus money, delay rentals, etc. A legal professional who is skilled in Texas divorce can be an asset for a person who is going through a divorce. An attorney can work with a person and help them through a complicated property division situation. They understand that property division is one of the most important aspects of a divorce and will make sure their client receives the best outcome in the settlement.
Although no couple expects their marriage will end in a divorce, it occurs to many Texas couples. It is important for a person to understand how the property division stage of a divorce works to make sure their needs are met both now and into the future.